Assessing value drivers for equity crowdfunding success: the role of sustainability

The impact of sustainability-related factors on the likelihood of success or failure of crowdfunding campaigns remains relatively unexplored. Specifically, it is essential to investigate whether and how sustainability influences the performance of equity crowdfunding campaigns and, more importantly, whether it affects the relationship between campaign outcomes (success or failure) and other potentially relevant factors. To bridge this gap, the present study aims to answer the following research question: RQ: Can sustainability be considered a determinant of success in equity crowdfunding campaigns? The goal behind the research question is to assess whether sustainability can be considered as a driver in attracting investors and increasing the likelihood of successful fundraising. More precisely, the study examines whether sustainability acts as a moderator in the relationship between other potential success factors and the actual achievement of the fundraising target.